Dreyfus New Competition

DRNJX Fund

USD 11.81 0.01 0.08%

Dreyfus New Jersey competes with Morningstar Global, Investec Global, Ab Global, Gmo Global, and Morgan Stanley; as well as few others. The fund is listed under Muni New Jersey category and is part of BNY Mellon family. Analyzing Dreyfus New competition allows you to expand the diversification possibilities of your existing portfolios and to get a better perspective on locking in new positions. Investors sometimes prefer comparable analysis of Dreyfus New to its intrinsic valuation because they are able to contrast its competitors on a relative basis. Check out Dreyfus New Correlation with its peers.

Dreyfus New vs Siit Global Correlation

Poor diversification

The correlation between Dreyfus New Jersey and SGMAX is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dreyfus New Jersey and SGMAX in the same portfolio, assuming nothing else is changed.

Moving together with Dreyfus Mutual Fund

0.98	VNJTX	Vanguard New Jersey	Pair Corr
0.99	VNJUX	Vanguard New Jersey	Pair Corr
0.98	FNJZX	Franklin New Jersey	Pair Corr
0.98	FNJRX	Franklin New Jersey	Pair Corr
0.98	FRNJX	Franklin New Jersey	Pair Corr

Specify up to 10 symbols:

Hype

Prediction

Low	Estimated	High
11.70	11.81	11.92

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Intrinsic

Valuation

Low	Real	High
10.75	10.86	12.99

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Naive

Forecast

Low	Next	High
11.66	11.76	11.87

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Bollinger

Band Projection (param)

Lower	Middle Band	Upper
11.75	11.81	11.88

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Dreyfus New Competition Correlation Matrix

Typically, diversification allows investors to combine positions across different asset classes to reduce overall portfolio risk. Correlation between Dreyfus New and its competitors represents the degree of relationship between the price movements of corresponding funds. A correlation of about +1.0 implies that the price of Dreyfus and its corresponding peer move in tandem. A correlation of -1.0 means that prices move in opposite directions. A correlation of close to zero suggests that the price movements of assets are uncorrelated; in other words, the historical price movement of Dreyfus New Jersey does not affect the price movement of the other competitor.

	MSTGX	ZGFIX	CBSYX	GMADX	MGKAX	GLOIX	JGECX	SGMAX
MSTGX		0.9	0.92	0.98	0.86	0.97	0.93	0.88	MSTGX
ZGFIX	0.9		0.93	0.91	0.92	0.9	0.98	0.95	ZGFIX
CBSYX	0.92	0.93		0.94	0.94	0.92	0.94	0.92	CBSYX
GMADX	0.98	0.91	0.94		0.86	0.95	0.93	0.88	GMADX
MGKAX	0.86	0.92	0.94	0.86		0.87	0.94	0.95	MGKAX
GLOIX	0.97	0.9	0.92	0.95	0.87		0.92	0.87	GLOIX
JGECX	0.93	0.98	0.94	0.93	0.94	0.92		0.97	JGECX
SGMAX	0.88	0.95	0.92	0.88	0.95	0.87	0.97		SGMAX
	MSTGX	ZGFIX	CBSYX	GMADX	MGKAX	GLOIX	JGECX	SGMAX

Risk-Adjusted Indicators

There is a big difference between Dreyfus Mutual Fund performing well and Dreyfus New Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Dreyfus New's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MSTGX	0.24	0.04	(0.02)	0.19	0.13	(0.28)	0.51	(0.50)	1.40
ZGFIX	0.61	0.12	0.13	0.22	0.37	(0.67)	1.24	(0.88)	10.50
CBSYX	0.42	0.04	0.03	0.14	0.32	(0.47)	0.82	(0.74)	5.49
GMADX	0.56	0.10	0.12	0.18	0.47	(0.64)	1.35	(1.10)	3.10
MGKAX	1.28	0.38	0.29	0.65	0.79	(1.62)	1.80	(2.11)	27.32
GLOIX	0.63	0.14	0.15	0.32	0.47	(0.72)	1.69	(1.38)	3.33
JGECX	0.67	0.16	0.21	0.24	0.31	(0.84)	1.49	(1.13)	9.68
SGMAX	0.57	0.23	0.39	0.57	0.00	(0.80)	0.81	(0.71)	14.48

Dreyfus New Competitive Analysis

The better you understand Dreyfus New competitors, the better chance you have of utilizing it as a position in your portfolios. From an individual investor's perspective, Dreyfus New's competitive analysis can cover a whole range of metrics. Some of these will be more critical depending on who you are as an investor and how you react to market volatility. However, if you are locking your investment sandscape to a long-term horizon, comparing the fundamental indicator across Dreyfus New's competition over several years is one of the best ways to analyze its investment potential.

Better Than Average

Worse Than Peers

View Performance Chart

	DRNJX	MSTGX	ZGFIX	CBSYX	GMADX	MGKAX	GLOIX	JGECX	SGMAX
	0.08 11.81 Dreyfus	0.29 10.31 Morningstar	0.31 19.62 Investec	0.31 16.15 CBSYX	0.19 36.50 Gmo	0.16 12.34 Morgan	1.79 17.63 Gamco	0.15 13.19 Jhancock	0.09 11.58 Siit
Market Volatility (90 Days Market Risk)	Very steady	Very steady	Very steady	Very steady	Very steady	Somewhat reliable	Very steady	Very steady	Not too volatile
Market Performance (90 Days Performance)	Mild	Solid	Good	Fair	Solid	Fair	Solid	Good	Good
Odds of Financial Distress (Probability Of Bankruptcy)	Low	Low	Low	Low	Low	Low	Low	Low	Low
Current Valuation (Equity Enterprise Value)	Over Valued	Under Valued	Under Valued	Fairly Valued	Under Valued	Fairly Valued	Under Valued	Under Valued	Over Valued
Buy or Sell Advice (Average Analysts Consensus)	Not Available	Not Available	Not Available	Not Available	Not Available	Not Available	Not Available	Not Available	Not Available
Trade Advice (90 Days Macroaxis Advice)	Strong Sell	Strong Buy	Strong Buy	Strong Buy	Strong Buy	Strong Buy	Strong Buy	Strong Buy	Strong Hold
Net Asset	286.06 M	212.65 M	76.01 M	245.76 M	722.52 M	4.6 M	9.61 M	778.15 M	2.41 B
Minimum Initial Investment	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	100 K
Price To Book	N/A	N/A	N/A	1.84	N/A	N/A	2.71	N/A	N/A
Five Year Return	0.42	5.56	8.63	5.49	N/A	11.28	2.76	9.44	11.18
One Year Return	3.51	14.72	18.65	13.71	N/A	25.07	49.69	17.02	17.43
Last Dividend Paid	0.03	0.04	0.05	0.59	1.05	0.04	0.12	N/A	0.24
Price To Earning	N/A	N/A	N/A	17.0	N/A	N/A	20.62	N/A	N/A
Price To Sales	N/A	N/A	N/A	1.15	N/A	N/A	1.73	N/A	N/A
Cash Position Weight	0.59	3.4	1.92	17.76	0.76	1.95	7.8	1.4	N/A
Equity Positions Weight	N/A	54.07	98.08	37.36	95.57	96.98	92.2	98.6	N/A
Three Year Return	2.66	9.76	12.9	7.97	N/A	17.85	12.06	14.69	13.97
Annual Yield	0.028	0.0431	0.007	0.0539	0.0469	0.009	0.0186	0.0022	0.0211
Year To Date Return	0.16	3.1	1.61	0.82	N/A	4.75	5.92	4.1	1.76
Bond Positions Weight	0.87	36.46	N/A	11.35	2.01	N/A	N/A	N/A	N/A
Ten Year Return	3.53	N/A	N/A	5.59	N/A	N/A	6.74	N/A	N/A
Day Typical Price	11.81	10.31	19.62	16.15	36.5	12.34	17.63	13.19	11.58
Daily Balance Of Power	9.2 T	9.2 T	9.2 T	9.2 T	9.2 T	9.2 T	9.2 T	9.2 T	9.2 T
Period Momentum Indicator	0.01	0.03	0.06	0.05	0.07	0.02	0.31	0.02	0.01
Rate Of Daily Change	1.0	1.0	1.0	1.0	1.0	1.0	1.02	1.0	1.0
Day Median Price	11.81	10.31	19.62	16.15	36.5	12.34	17.63	13.19	11.58
Price Action Indicator	0.005	0.015	0.03	0.025	0.035	0.01	0.15	0.01	0.005
Relative Strength Index	54.22	70.98	65.12	62.99	66.28	68.0	78.57	69.36	74.83
Coefficient Of Variation	1270.08	429.28	688.02	762.43	435.81	763.56	426.29	529.83	634.88
Mean Deviation	0.0667	0.2447	0.6063	0.4172	0.5589	1.28	0.628	0.6691	0.5689
Jensen Alpha	(0)	0.0393	0.1166	0.0415	0.0951	0.3766	0.1412	0.1573	0.2282
Total Risk Alpha	(0.01)	0.0327	0.0543	0.0169	0.0857	0.1138	0.1042	0.106	0.0998
Sortino Ratio	(0.41)	(0.02)	0.1318	0.0302	0.1225	0.2865	0.1477	0.2148	0.3924
Downside Variance	0.0287	0.1249	0.5923	0.246	0.4582	1.52	0.5682	0.4958	0.2376
Standard Deviation	0.105	0.3056	1.24	0.7117	0.7028	3.29	0.8087	1.22	1.71
Kurtosis	2.23	(0.28)	33.66	23.44	(0.12)	51.16	(0.17)	28.84	57.58
Potential Upside	0.1701	0.5056	1.24	0.8217	1.35	1.8	1.69	1.49	0.8147
Treynor Ratio	(0.07)	0.1914	0.218	0.1363	0.184	0.6478	0.3189	0.2411	0.5655
Maximum Drawdown	0.5931	1.4	10.5	5.49	3.1	27.32	3.33	9.68	14.48
Variance	0.011	0.0934	1.53	0.5066	0.494	10.83	0.654	1.48	2.93
Market Risk Adjusted Performance	(0.06)	0.2014	0.228	0.1463	0.194	0.6578	0.3289	0.2511	0.5755
Risk Adjusted Performance	(0)	0.1566	0.1105	0.0957	0.1676	0.1037	0.1727	0.1422	0.121
Skewness	(0.28)	(0.34)	4.91	3.74	(0.07)	6.72	0.0916	4.43	7.35
Semi Deviation	0.0	0.1318	0.3748	0.3225	0.4651	0.7865	0.4694	0.312	0.0
Information Ratio	(0.67)	(0.02)	0.082	0.0211	0.118	0.1072	0.1377	0.1243	0.1117
Value At Risk	(0.17)	(0.50)	(0.88)	(0.74)	(1.10)	(2.11)	(1.38)	(1.13)	(0.71)
Expected Short fall	(0.13)	(0.28)	(0.67)	(0.47)	(0.64)	(1.62)	(0.72)	(0.84)	(0.80)
Downside Deviation	0.1694	0.3534	0.7696	0.496	0.6769	1.23	0.7538	0.7042	0.4874
Semi Variance	(0)	0.0174	0.1405	0.104	0.2163	0.6186	0.2204	0.0974	(0.16)

Dreyfus New Competition Performance Charts

Five steps to successful analysis of Dreyfus New Competition

Dreyfus New's competitive analysis is the process of researching and evaluating its competitive landscape. It provides an understanding of the strengths, weaknesses, opportunities, and threats (SWOT) faced by Dreyfus New Jersey in relation to its competition. Dreyfus New's competition analysis typically involves several steps, including:

Identifying the key players in the market: This involves identifying the major competitors of Dreyfus New in the market, both direct and indirect, as well as new entrants and disruptive technologies.
Assessing the strengths and weaknesses of each competitor: This involves evaluating each competitor's strengths and weaknesses in areas such as product offerings, market share, brand recognition, financial performance, and distribution channels.
Understanding the competitive environment: This involves evaluating the regulatory environment, economic conditions, and other factors that may impact Dreyfus New's competitive landscape.
Identifying opportunities and threats: This involves using the information gathered during the analysis to identify opportunities and threats to Dreyfus New Jersey, and developing a strategy to address them.
Evaluating the competitive landscape: This involves understanding the competitive dynamics of the market, such as pricing, marketing, and distribution strategies, as well as analyzing the competitive advantage of each competitor.

Competitive analysis is an essential tool for businesses to stay ahead of the competition and can be used to inform decision-making and strategy development. By understanding the competitive landscape and staying informed about the activities of competitors, a company can make more informed decisions and improve its overall performance.

Complement your Dreyfus New position

In addition to having Dreyfus New in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.

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ETF themes focus on helping investors to gain exposure to a broad range of assets, diversify, and lower overall costs. The Large Cap ETFs theme has 893 constituents at this time.

You can either use a buy-and-hold strategy to lock in the entire theme or actively trade it to take advantage of the short-term price volatility of individual constituents. Macroaxis can help you discover thousands of investment opportunities in different asset classes. In addition, you can partner with us for reliable portfolio optimization as you plan to utilize Large Cap ETFs Theme or any other thematic opportunities.

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Dreyfus New financial ratios help investors to determine whether Dreyfus Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Dreyfus with respect to the benefits of owning Dreyfus New security.

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Dreyfus New Competition

Dreyfus New vs Siit Global Correlation

Poor diversification

Moving together with Dreyfus Mutual Fund

Specify up to 10 symbols:

Dreyfus New Competition Correlation Matrix

Risk-Adjusted Indicators

Dreyfus New Competitive Analysis

Dreyfus New Competition Performance Charts

Five steps to successful analysis of Dreyfus New Competition

Complement your Dreyfus New position

Did You Try This Idea?

Run Large Cap ETFs Thematic Idea Now

Large Cap ETFs

Other Information on Investing in Dreyfus Mutual Fund

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